Property Damage and Insurance Claims FAQ
How long will it take for me to get any monies owed from the insurance carrier?
That will depend on your carrier, however, by law they have to respond to you within the time period defined in your policy (usually between 30 – 90 days) once you have submitted the Sworn Proof of Loss form.
What if I have already received money from the insurance company on the claim? Will I still be able to reopen my claim?
Absolutely! If you are able to demonstrate that they owe you additional monies, by law, the Good Faith Claim Settlement Act states they must pay you.
How do I show that the insurance company owes me more money on my claim?
That’s where your Public Adjuster comes in. Their report along with the Sworn Proof of Loss substantiates your position and gives the insurance company the information they need for them to authorize giving you more money.
What will the insurance company do after receiving my Public Adjuster’s estimated loss?
The insurance company has 3 options:
- Agree with the report and pay the difference, or
- Disagree with the claim total and negotiate a new amount. Somewhere in-between what they originally settled with you and the new estimated loss calculated by your Public Adjuster, or
- Deny the amount presented on the loss estimate submitted by your Public Adjuster
What happens if the claim is denied?
When working with your own Public Adjuster they work on a contigency fee which means if you don’t get paid by the insurance company they are not entitle to get paid
Why is there such a large difference between what the insurance carrier offers to settle the claim and what a Public Adjuster can ultimately get?
- Public Adjusters are licensed and knowledgeable professionals in the insurance industry
- Insurance companies are in business to make money, the more they pay out in losses, the less money they make